USDA Market News Tue Mar 18, 2003 Wednesday, Mar 19, 2003
New Zealand Meat Export Summary and Prices
Beef: Anxious U.S. consumers in uncertain times not reducing level of frozen beef stocks and this was main reason for prices easing 1-2c/lb last week. In contrast, prices in Asian markets for cuts and some manufacturing items continue to rise. Helped by a 3% weaker NZ dollar, Agri-Fax indicator prices up 15c/kg for steers and 8c/kg for bulls.
Lamb: European markets have become softer in price as we move toward Easter production period and supply of sheepmeat reaches its peak in NZ. Sharply lower Kiwi$ was main factor affecting market returns last week which overall up by nearly 10c/kg on farmgate basis.